BoE's Pill thinks more rate hikes needed but wary of recession - Western Mail
Reuters
Published May 25, 2022 08:44
LONDON (Reuters) - Bank of England Chief Economist Huw Pill said he thought more interest rate hikes would be needed but that the central bank is conscious too much would leave the economy stuck in recession, in an interview published on Wednesday.
"(Too) much runs the risk that you fall into and get stuck in a deep recession, which is very costly and too little you run the risk that inflation gets this self-sustaining momentum and runs away from the target," Pill told the Western Mail newspaper during a recent visit to Wales.
"I personally think there is more that needs to be done... and we need to go not necessarily to a super restrictive stance but to a stance that takes some of that support away..."
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Written By: Reuters
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